MOSCOW, August 13 (Itar-Tass) - Russian Prime Minister Dmitry Medvedev has instructed that a protocol to the Russian-Jordanian loan agreement should be submitted to the State Duma for ratification.
The protocol envisages reduction of an interest rate on a $350 billion loan issued to Jordan’s armed forces on December 28, 2006. The protocol was signed in Moscow on July 13, 2012.
In May 2011, Jordanian Prime Minister Maaruf Bakhit said Jordan wanted to reduce its debt burden on the country’s budget within the upcoming three years and asked Russia to decrease the loan’s interest rate and extend its repayment period, a source in the Russian government said.
The Russian Finance Ministry said the agreements reached reflected the sides’ reasonable compromise to decide on mutually advantageous conditions for restructuring Jordan’s debt obligations and take into consideration the Jordanian side’s request to ease its debt burden for the upcoming three years.